MSPs to Capitalize on Strong Tech Spending
Expereo research also aims to debunk myth that MSPs are just “a cost-intensive nice-to-have”.
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Security (61%), automation and analytics (59%), and 5G (58%) were identified as the top three areas for increased tech investments globally in the next four months. These were closely followed by public/hybrid cloud (55%), Edge computing and IoT (both 54%), SD-WAN (45%) and SASE (51%).
CIOs claim that this investment will drive global growth by ensuring prioritization of increased innovation (50%), increased automation (47%) and expansion into new markets (45%).
Almost half (46%) of CIOs claimed that establishing and managing connectivity in new markets is the single most critical factor in ensuring successful global expansion. Forty-two percent said that their board views global connectivity as a business asset critical to growth.
But there are challenges that need to be overcome. Thirty-seven percent said that establishing connectivity in new regions is one of the major challenges in their role.
Additional challenges were security environments (35%), skills and resource retention (35%), complicated physical and geopolitical infrastructure (33%), regulation and compliance (32%), and legacy systems and local knowledge (both 31%).
As such, organizations may be missing growth opportunities by failing to prioritise regions with some of the world’s fastest growing economies.
“The business-critical nature of connectivity in today’s world combined with an increasingly complex landscape — from security, regulation, skills and often challenging physical and geo-political infrastructure – mean it’s no easy task. However, it is achievable,” said Elms.
“Those that find a way to simplify, automate and scale their operations will be in the best position to reap the rewards and growth that this can deliver.”
When asked about where their organization saw the biggest opportunity for growth, North America and Europe dominated the list. North America (37%) took the throne, followed by Western Europe (32%), Eastern Europe (26%), Northern Europe (25%) and South America (25%).
According to the research, UK CIOs have the most positive outlook globally after China. “Realizing the growth opportunities that global expansion can deliver will be critical to the world economy in these challenging times. CIOs need to completely focus on supercharging this strategic growth wherever they are doing business in the world; not grappling with unnecessary logistical and connectivity challenges,” said Elms.
MSPs can connect global businesses with hyper-local expertise across multiple markets, said Elms. However, many CIOs adopt a ‘do-it-yourself’ approach to tech procurement and management, This can lead to complex systems of SaaS applications, cloud infrastructure and network connectivity.
“Debunking the myth that MSPs are a cost-intensive ‘nice-to-have’ needs to be addressed. Businesses need to understand that the value MSPs provide in helping to keep operations streamlined, plug skills gaps and ensure they are connected with the right expertise and guidance across markets can be beneficial to accelerating growth.”
MSPs can connect global businesses with hyper-local expertise across multiple markets, said Elms. However, many CIOs adopt a ‘do-it-yourself’ approach to tech procurement and management, This can lead to complex systems of SaaS applications, cloud infrastructure and network connectivity.
“Debunking the myth that MSPs are a cost-intensive ‘nice-to-have’ needs to be addressed. Businesses need to understand that the value MSPs provide in helping to keep operations streamlined, plug skills gaps and ensure they are connected with the right expertise and guidance across markets can be beneficial to accelerating growth.”
Managed service providers (MSPs) have reason to be optimistic as tech spending remains strong in 2023. That’s according to new CIO research from MSP Expereo.
Expereo’s Ben Elms
Despite widespread recession fears, tech spending is increasing across security, digital, cloud and the network, said Ben Elms, CRO for Expereo. In fact, 72% of large global enterprises have committed to, or are leaning toward, increased technology investment.
“Digital enablers like AI and machine learning, automation and analytics, and the internet of things rank near the top,” said Elms. “Then cloud environments, which will underpin the introduction of new digital enablers.”
However, the research shows that 49% of businesses are struggling to find cybersecurity experts. At the same time, 41% are having trouble finding artificial intelligence and machine learning experts.
“Global businesses will look to managed services to maintain and optimize technology stacks amid difficulties in hiring IT talent,” said Elms.
Click on the slideshow above for more insight from Expereo into what the research means for MSPs.
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